Maldives Airports Company Limited (MACL) has revealed the company revenue has decreased significantly this year, adding efforts are underway to apply for a loan from the Bank of Maldives (BML).
Speaking at the Parliamentary Committee on State-Owned Enterprises (SOEs), acting Managing Director Moosa Solih said MACL generated profits in last December and January. He said a considerable profit was generated in February as well, although some earnings from services began to go down amid the COVID-19 pandemic.
The acting managing director noted the revenue generated by MACL by the end of May 2020 represented a 98% decrease compared to last year. He revealed all expenses except salaries have been reduced as part of the efforts exerted to reduce the expenses amid the pandemic.
The main gateway of the Maldives, Velana International Airport (VIA), has been closed since March 27 after the first COVID-19 cases were reported in the Maldives on March 7. Almost all economic activities in the country have been suspended with the closing of the main airport.